The total amount of hot money that left Egypt during a global sell-off on Monday represented no more than 7-8% of the total outstanding in the market at the time, Prime Minister Mostafa Madbouly told a news conference on Thursday.

Foreign investors sold Egyptian pound treasury bills and converted the proceeds to dollars in a shift to safer assets, analysts and bankers said. The sell-off was compounded by regional political tensions and concerns about government finances, they said.

(Reporting by Patrick Werr Editing by Tomasz Janowski)